FREE SOCIAL STUDIES AND STUDY GAMES ABOUT

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FREE SOCIAL STUDIES AND STUDY GAMES ABOUT

ECONOMICS EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -18 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: System of social organization in which private property and the distribution of income are subject to social control;

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Socialism Question 2: It is an economic system of individual reward where the common man can better his economic and social standing. It has been a long standing working form of economic means and distribution, not only in Europe, but in the United States.

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Capitalism Question 3: System of social organization in which private property and the distribution of income are subject to social control; also, the political movements aimed at that system into practice.

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Socialism

Question 4: It promotes privately owned property and institutions. This enables one to have equal opportunity in the economy. It is an economic system of individual reward where the common man can better his economic and social standing.

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Capitalism Question 5: an economic system run publicly via the government, where the government dictates economic policies and there is no private ownership.

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Socialism

Question 6: Which economic system is described below?

• Private Ownership.
• Profit Motive.
• Market Economy

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Capitalism Question 7: The economic system runs and owns everything. No such thing as an individual owning anything, not even their clothing. Communism is a class free society (in theory). All work for the good of the society and labor at what one does best for community welfar

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Communism Question 8: "a form of economic, industrial, and social organization of society involving ownership, control, and direction of production by privately owned business organizations."

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Capitalism Question 9: The people through the government own and operate the economic system.

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Socialism Question 10: "an economic system aiming at public or government ownership of means, of production, etc."

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Socialism

Question 11: A way of organizing a society in which the government owns the things that are used to make and transport products (such as land, oil, factories, ships, etc.)

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Communism Question 12: "the theory of a social-economic system in which everything is held in common, private property being abolished."

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Communism Question 13: economic system in which there is little or no private ownership - property is held by the community rather than by individuals. All economic activity is controlled by the government,

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Communism Question 14: Everyone works for the country as best as they can. They are given what they NEED, not what they WANT.

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Communism Question 15: This is an economic system based on Private Ownership and the uses of Capital

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Capitalism Question 16: Political and economic system in which most forms of economically valuable property and resources are owned and controlled by the public and the state.

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Capitalism Question 17: Any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods

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Socialism

Question 18: Karl Marx's model of this had the political system (government) "wither away" and the economic-social system be self-sustaining for everything is held in common (by the public).

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Communism